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Kobalt Music Lines Up $550 Million in Debt to Buy Song Rights

  • JPMorgan, HPS Investment Partners are said to arrange funding
  • New financing coincides with surging interest in song catalogs
Stevie Nicks

Stevie Nicks

Photographer: Jamie McCarthy/Getty Images

Kobalt Music Group Ltd. has raised $550 million in debt financing for the acquisition of music copyrights, according to a person familiar with the deal, giving the closely held company funds to build its catalog.

JPMorgan Chase & Co. and HPS Investment Partners provided the funds, said the person, who asked not to be identified because the terms haven’t been announced. All three parties declined to comment.